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Bitcoin price plunges | VTV.VN

According to CoinMarketCap data on April 30 (Vietnam time), the price of Bitcoin plunged 2.15% compared to the previous 24 hours to 38,690 USD/copper. Thus, dong cryptocurrency the world’s largest once again leaves the critical threshold 40,000 USD/copper. Bitcoin’s Market Cap Shrinks More Than 735 billion USD.

The red color also covers other crypto markets. The capitalization of the entire crypto market is down 2.5% from a day earlier 1.770 billion USD. The price of Ether – the 2nd largest cryptocurrency – plunges 3.34% to 2,827 USD/copper.

International experts say that the cryptocurrency market continues to move in the same direction as technology stocks. The sell-off was widespread due to concerns about the US Federal Reserve (FED) continuing to pursue a plan to tighten monetary policy.

The Fed’s rate hike will have a strong impact on Bitcoin and technology stocks. At the end of the trading session on April 29, the technology-biased NASDAQ index lost 536.89 points, or 4.17%, to 12,334. The S&P 500 and Dow Jones fell 3.63% and 2.77%, respectively.

Share prices of tech giants such as Amazon, Intel and Apple plunged 14%, 6.9% and 3.7%, respectively.

“Bitcoin has been trading more like a tech stock than a cryptocurrency for a while. Its price is strongly correlated with NASDAQ,” said Emile Phaneuf, an economist at the research firm. Brave New Coin cryptocurrency – comment.

Bitcoin is a virtual currency with strong fluctuations in price, recently the price of this largest cryptocurrency in the world has fluctuated, causing many investors to struggle. At the beginning of the week, Bitcoin price suddenly increased sharply to $ 40,000, but after only one day returned to the lowest price in the past 6 weeks of $ 38,200.

According to experts, short-term investors are inclined to sell, due to uncertainty in the current virtual currency market. To sustain the current recovery phase, Bitcoin will need to keep the price above $40,000.

Recently, the price of Bitcoin has increased and decreased erratically due to political and economic developments in the world in some places. In addition, the effects of COVID-19 epidemic also have an impact on this currency, causing the global supply chain to be affected.

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